SARFAESI
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act provides banks and financial institutions with mechanisms for enforcement of security interest without court intervention. We advise and represent parties in SARFAESI proceedings.
Our Process
- 1Review of SARFAESI notices and assessment of legal position
- 2Filing objections and representations to secured creditors
- 3Section 17 applications before the DRT
- 4Challenging auction proceedings
- 5Appeals before DRAT
Challenging SARFAESI Actions
We assist borrowers in challenging enforcement actions including possession notices, auction proceedings, and symbolic possession under the SARFAESI Act.
Advisory for Financial Institutions
We also advise financial institutions on compliance with SARFAESI provisions, ensuring that enforcement actions are legally sound and procedurally correct.
Frequently Asked Questions
What is the time limit to challenge SARFAESI actions?
An application under Section 17 must be filed within 45 days from the date on which the borrower receives notice of the secured creditor's action.
What actions can be taken under SARFAESI?
Secured creditors can take possession of secured assets, sell or lease secured assets, take over management of the business, and appoint managers.
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